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. >> reporter: federal reserve chair ben bernanke warns gridlock is already affecting the economy. >> why is it that consumer confidence dropped so sharply this week? why is it that small business confidence dropped so sharply? why are the markets volatile. >> reporter: now this is interesting. we're looking this morning at a new analysis from the nga, the national governor's association. they say on average states will lose about 7% of their federal grants if we go over the cliff. but that some states will actually bring in more tax revenue to compensate. other states will bring in less. >> that is interesting. all right. thanks so much. >>> syria is reportedly escalating the conflict with opposition forces by firing scud missiles at rebels. u.s. officials say more than half dozen scud missiles were fired into northern syria and areas held about it rebels have suffered severe damage recently. there's no evidence that the missiles contain chemical weapons, though. meanwhile, the president of ecuador denied yesterday that syrian leader assad has requested asylum there. >>> john mcafee
. >> reporter: federal reserve chair ben bernanke warns gridlock is already affecting the economy. >> why is it that consumer confidence dropped so sharply this week? why is it that small business confidence dropped so sharply? why are the markets volatile. >> reporter: now this is interesting. we're looking this morning at a new analysis from the nga, the national governor's association. they say on average states will lose about 7% of their federal grants if we go over the...
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you know, it was ben bernanke who first coined the term. and he was talking about the economy going over the cliff if we did not act appropriately. so we absolutely have to do the right thing here. now, having said that, to juxtapose medicare and social security, which are programs in which people pay into all their lives, as being the area that we are going to cut, is not where i believe the cut should be should be takes place. >> representative, from that note, according to politico, the article we were talking about earlier, john boehner is able to move on with revenue for the cuts if john boehner says okay to a deal, will you extend the tax hikes for the rich to raise the issues on medicare? >> that's one area that doesn't make any sense. why should we do something that's stupid? raising the retirement age from 65 to 67, actually, only nets $2 billion. and the other costs associated with it is, maybe it's closer to $5 billion. but the other costs associated with it, in emergency room its terms of having to subsidize medicare in the stat
you know, it was ben bernanke who first coined the term. and he was talking about the economy going over the cliff if we did not act appropriately. so we absolutely have to do the right thing here. now, having said that, to juxtapose medicare and social security, which are programs in which people pay into all their lives, as being the area that we are going to cut, is not where i believe the cut should be should be takes place. >> representative, from that note, according to politico,...
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and ben bernanke said household confidence is starting to wane. businesses aren't spending money because of the fiscal cliff. so it's so elusive. it's almost right there. next year could be a good year if we can get some of these uncertainties settled. >> thank you so much, christine. appreciate it. >>> 26 minutes past the hour. >>> without it, a lot of iphone users were lost without it. literally. the app that just made a big comeback. switchgrass in argentina, change engineering in dubai, aluminum production in south africa, and the aerospace industry in the u.s.? at t. rowe price, we understand the connections of a complex, global economy. it's just one reason over 75% of our mutual funds beat their 10-year lipper average. t. rowe price. invest with confidence. request a prospectus or summary prospectus with investment information, risks, fees and expenses to read and consider carefully before investing. he opened up jake's very private world. at first, jake's family thought they saved ziggy, but his connection with jake has been a lifesaver. f
and ben bernanke said household confidence is starting to wane. businesses aren't spending money because of the fiscal cliff. so it's so elusive. it's almost right there. next year could be a good year if we can get some of these uncertainties settled. >> thank you so much, christine. appreciate it. >>> 26 minutes past the hour. >>> without it, a lot of iphone users were lost without it. literally. the app that just made a big comeback. switchgrass in argentina, change...
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. >> someone in dc is focussed on job, fed chairman ben bernanke pledging more easy money to cut the unemployment rate. what does the economy look like in the new year, wells fargo chief economist, john silvio next. lou: chairman ben bernanke made a historic move sitting unemployment rate as a target for monetary policy. we'll be taking that up, talking with wells fargo chief economist john silv sylvia in moments, and announcing they will spend -- a month buying mortgage-backed security. what the market expected and stocks rallied a bit on the announcement, a little. then ben bernanke talked about the fiscal cliff that ended that rally, stocks coming off their highs, index, swung 102 points over second, and s&p finished where it began, nascar -- nazdaq down over 8 points, and trading on big board, busiest in the week, walmart a big mover, dropping retailer part of an overall weak group, best answer, profit taking with the sell-off walmart up, 18 -- almost 19ers in on the year, 10 year, yield rising to 1.69%, and crude market, up, joining me now, wells fargo chief economist, john silv
. >> someone in dc is focussed on job, fed chairman ben bernanke pledging more easy money to cut the unemployment rate. what does the economy look like in the new year, wells fargo chief economist, john silvio next. lou: chairman ben bernanke made a historic move sitting unemployment rate as a target for monetary policy. we'll be taking that up, talking with wells fargo chief economist john silv sylvia in moments, and announcing they will spend -- a month buying mortgage-backed security....
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ben bernanke has become the jobs commander in chief. we've heard nothing but carping on air in the blog sphere as you the fed's latest actions today. i ska give me a break. bernanke said my legacy will be that i helped people get a job. and i care more about the unemployed than i do about taxing or not taxing the wealthiest 2%. further, bernanke's implied with this action to keep buying bonds. buy buy buy buy buy buy! to force interest rates to stay low until we get to a 6.5% unemployment? well, he's saying he's very worried about our country going over the fiscal cliff. and he's extremely anxious about how that new found mandated austerity will mean huge job losses. yeah. lots and lots of people not being able to pay for dinner. our network calculates that while there'll be some powerful initial debt reductions from the reduced spending and much higher taxes, going over this cliff women cost this country 2 million jobs. do you ever hear that during the day? 2 million jobs. a lot of jobs. which is why we believe congress and the preside
ben bernanke has become the jobs commander in chief. we've heard nothing but carping on air in the blog sphere as you the fed's latest actions today. i ska give me a break. bernanke said my legacy will be that i helped people get a job. and i care more about the unemployed than i do about taxing or not taxing the wealthiest 2%. further, bernanke's implied with this action to keep buying bonds. buy buy buy buy buy buy! to force interest rates to stay low until we get to a 6.5% unemployment?...
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when you look at what ben when you look at what ben bernanke did today you've got to marvel. the republicans themselves refuse to get specific on spending until they see something from the white house. the elected portion of our government is not helping this economy at all. their failure to rise above politics to reach a compromise is now really starting to hurt the u.s. economy. in this vacuum, the fed has decided to keep rates low. they stepped in saying listen, business, we are not going to get in your way. we're not going to allow interest rates to go higher until we get many hundreds of thousands of people hired! [ applause ] ben bernanke has become the jobs commander in chief. while i've heard nothing but carping on air in the blogosphere as you the fed's latest actions today. i say give me a break. bernanke said my legacy will be that i helped people get a job. and i care more about the unemployed than i do about taxing or not taxing the wealthiest 2%. further, bernanke's implied with this action to keep buying bonds. buy buy buy buy buy buy! to force interest rates t
when you look at what ben when you look at what ben bernanke did today you've got to marvel. the republicans themselves refuse to get specific on spending until they see something from the white house. the elected portion of our government is not helping this economy at all. their failure to rise above politics to reach a compromise is now really starting to hurt the u.s. economy. in this vacuum, the fed has decided to keep rates low. they stepped in saying listen, business, we are not going to...
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. >> and you can thank big ben bernanke, the fed chief. a lot of people saying that the federal reserve and its herculean efforts to keep the economy moving is why stocks are up, why the economy is growing, and they're expecting the fed to announce new measures, new st stimulus to keep it going. so when you hear the catch phrase that the fed is the only game in town, the fed is the only game in town. around the world it has been central banks who are independent from governments, central banks who have been doing so much, pumping money into the system to keep things going. s&p 500 up 13% so far this year. all of these uncertainties we talked about, the fiscal cliff, all of that stuff, it is because of the certainty of fed policy many people are telling me, also because they think on wall street the fiscal cliff will be avoided. they think on wall street the only thing left to do is a little bit of shouting over what the top rate will be. 36%, 37%. they think corporate taxes will come down and we know that that is in the latest sort of prop
. >> and you can thank big ben bernanke, the fed chief. a lot of people saying that the federal reserve and its herculean efforts to keep the economy moving is why stocks are up, why the economy is growing, and they're expecting the fed to announce new measures, new st stimulus to keep it going. so when you hear the catch phrase that the fed is the only game in town, the fed is the only game in town. around the world it has been central banks who are independent from governments, central...
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we talked about ben bernanke beforehand in a news article. explain something to me, because you know i'm a simple man, got simple tastes. i just love running through the fields barefooted, you know. >> eating doughnuts. >> eating doughnuts. eating munchkins after a cool spring rain. but anyway, i don't understand -- you like that, harold? i don't know where this comes from. i think it's a sugar rush from the munchkins. but anyway. i don't understand how the entire chattering class, the elites, all the economists, the entire world decided they were going to beat the hell out of alan greenspan for providing cheap money over a decade. how could he do that? how could he do that after the long-term capital collapse? how could he do that after the collapse in asia? how could you do that after the dotcom bust? but alan greenspan never did what this fed chairman is doing. i mean, he's taken greenspan's belief that cheap money will help americans through tough times to an absurd new level. >> well, he's certainly taken it to a new level. we can discus
we talked about ben bernanke beforehand in a news article. explain something to me, because you know i'm a simple man, got simple tastes. i just love running through the fields barefooted, you know. >> eating doughnuts. >> eating doughnuts. eating munchkins after a cool spring rain. but anyway, i don't understand -- you like that, harold? i don't know where this comes from. i think it's a sugar rush from the munchkins. but anyway. i don't understand how the entire chattering class,...
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ben bernanke will feel it's his job to do whatever he can. that's the nature of the team, that's the nature of what they've been doing. are there any extra goodies that they might think of in your view? >> the extra goody they're talking about i would describe as operation twist. what they have been doing is driving down long-term rates, by essentially settling short-term treasuries and buying long-term treasuries. the possibility that steve just described, and it is a possibility, is that because they're running out of the short term, they will only buy the long term. that will certainly be an expansion. but the question is, will that expansion add a lot to the -- >> let me ask you about that. on a scale of 1 to 10, how powerful a tool is that? if they announce it today, mark? >> it has a significant psychological effect. but it's only psychological. it will be a long time before that would have any fundamental effect on the underlying economy. >> you know, mark, let me rather than going immediately to john on this question, let me ask you w
ben bernanke will feel it's his job to do whatever he can. that's the nature of the team, that's the nature of what they've been doing. are there any extra goodies that they might think of in your view? >> the extra goody they're talking about i would describe as operation twist. what they have been doing is driving down long-term rates, by essentially settling short-term treasuries and buying long-term treasuries. the possibility that steve just described, and it is a possibility, is...
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is it time to call in the fed busters to stop ben bernanke from messing with our economy? i like that. joining me nariman bear verb, ihs chief economist and steve moore from the "wall street journal" steve, seems like you are the guy that likes our ghost buster, fed buster guy. >> i was shocked by the decision. is this qe inifiti we're on right now? melissa: i don't know. >> we've had such a huge deluge of liquidity into the market. and the fed, a lot of people know this that the fed already owns about a trillion dollars worth of federal 30-year treasury securities on its book and it will now purchase 40 billion more a month. that is fancy way of saying what we're doing right now, melissa, we're monetizing our debt. melissa: yeah. >> treasury department is issuing the debt and federal reserve is purchasing the debt and purchases that debt by printing money. melissa: nariman, a lot of people expected before the announcement today they would say they're backing off. instead they said they will target the unemployment rate, you know as if this would give them license to go on
is it time to call in the fed busters to stop ben bernanke from messing with our economy? i like that. joining me nariman bear verb, ihs chief economist and steve moore from the "wall street journal" steve, seems like you are the guy that likes our ghost buster, fed buster guy. >> i was shocked by the decision. is this qe inifiti we're on right now? melissa: i don't know. >> we've had such a huge deluge of liquidity into the market. and the fed, a lot of people know this...
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ben bernanke's news conference starts at 12:15 p.m. eastern time. steve joins us in a few minutes with the preview from washington. >>> another story with big implications is michigan's decision to become a righ"right work" state. it would bar members from requiring to pay member dues. the governor signed the law. >> shouldn't unions be putting out the proposition workers want to join a union and shouldn't workers be able to make a choice their dollars are going to that union based on whether they're getting results that. 's what this is doing. that's why i view this as pro worker, not anti-union. >> it is viewed as a big blow to organized union that has seen membership decline across the country. dow opened higher by 56, nasdaq by 13 and s&p by a little more than 7, a gain half a percent across the board. in asia, higher across the board, not a lot. hang seng did well, higher by 181 points. europe still open at this hour, higher across the board. a gain for germany and quarter percent for the ftse, fairly flat where decide iing he will longer be a
ben bernanke's news conference starts at 12:15 p.m. eastern time. steve joins us in a few minutes with the preview from washington. >>> another story with big implications is michigan's decision to become a righ"right work" state. it would bar members from requiring to pay member dues. the governor signed the law. >> shouldn't unions be putting out the proposition workers want to join a union and shouldn't workers be able to make a choice their dollars are going to that...
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ben bernanke grabbing the spotlight on wall street tomorrow. he's expected to announce additional treasury buying. our panel next telling us how that will impact your money. back in a moment. [ male announcer ] it's that time of year again. time for citi price rewind. because your daughter really wants that pink castle thing. and you really don't want to pay more than you have to. only citi price rewind automatically searches for the lowest price. and if it finds one, you get refunded the difference. just use your citi card and register your purchase online. additional treasury buying. [ male announcer ] now all you need is a magic carriage. citi price rewind. start saving at citi.com/pricerewind. >>> welcome back. we have breaking news on the fiscal cliff negotiations. eamon? >> we have a statement from john boehner's office. they're saying that they have made a counter proposal now to the white house. let me read you the statement. they say, we sent the white house a counter offer that would achieve tax and entitlement reform to solve our loo
ben bernanke grabbing the spotlight on wall street tomorrow. he's expected to announce additional treasury buying. our panel next telling us how that will impact your money. back in a moment. [ male announcer ] it's that time of year again. time for citi price rewind. because your daughter really wants that pink castle thing. and you really don't want to pay more than you have to. only citi price rewind automatically searches for the lowest price. and if it finds one, you get refunded the...
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we have this week, ben bernanke and the fed will meet at a two-day fed meeting. a lot of people are hoping to hear from the federal reserve chief that there will be some kind of on going stimulus in the form of, you know, bond buybacks or something. we'll be looking to see what he has to say about the economy. this is another big uncertainty in the markets for the week. you know, this comes after consumer spending showing as "the wall street journal" set this morning, consumer spending, consumer confidence wabbling. this is europe concerns. we're seeing that consumer heading into the end of the year is starting to get a little more nervous about where we're headed here. now fiscal cliffs and payroll, fiscal cliff has a lot to do with this. the american payroll association this is the trade group for all of the small business who's are doing payrolls, you know, paying you. they say the fiscal cliff really isn't january 1st. their fiscal cliff is december 14th. that's the time they need to have the software changed to make sure the tax changes go into the paycheck.
we have this week, ben bernanke and the fed will meet at a two-day fed meeting. a lot of people are hoping to hear from the federal reserve chief that there will be some kind of on going stimulus in the form of, you know, bond buybacks or something. we'll be looking to see what he has to say about the economy. this is another big uncertainty in the markets for the week. you know, this comes after consumer spending showing as "the wall street journal" set this morning, consumer...
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and ben bernanke's press briefing at quarter past. the fed is expected to announce a new round of bond purchases as its latest program, operation twist, is set to expire at the end of the month. cnbc will begin at 12:00 p.m. eastern. >>> joining us is stewart richardson, partner at rpmg. the press conference -- we'll hear a fresh round of stimulus from the fed. how significant would that be? >> in my mind it's not that significant. i think as optics, people think this is another addition to the stimulus. the fact is that the fed for months and months and months when they go out to purchase longer term treasuries, they're trying to reduce the supply of those in the market and effectively swap short dated cash or other securities. north about 1.25%. whether they're holding reserves or selling the, say, two-year treasury at north of 2 5 basis points, it's effectively the same thing. they're printing 85 million a month and saying we're not doing a twist, we're doing an outright purchase. >> it's different if twist doesn't expand the balan
and ben bernanke's press briefing at quarter past. the fed is expected to announce a new round of bond purchases as its latest program, operation twist, is set to expire at the end of the month. cnbc will begin at 12:00 p.m. eastern. >>> joining us is stewart richardson, partner at rpmg. the press conference -- we'll hear a fresh round of stimulus from the fed. how significant would that be? >> in my mind it's not that significant. i think as optics, people think this is another...
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ben bernanke says the fed doesn't have enough tools to offset the fiscal cliff. the fed will keep interest rates near zero until the jobless rate falls to 6.5% or inflation rate to 2.5%. and growth next year 2.3% to 3% and jobless rate likely to say in the 7.4 to 7.7% range. unemployment checks will end by the end of the year if congress fails to fix the fiscal cliff. it's unclear the fate of the benefits in the fiscal cliff fight, something that terrifies people like alisia worthen. you've been looking for a job for more than six months. are you more optimistic or less optimistic? >> i believe it's going to turn around. it will probably take a little time but i believe it will. >> you need the government to help now until that happens? >> yes, i definitely do. i have a household to run, still have rent and bills to pay and i need help. i need help. >> millions of people like alecia. she still needs an unemployment check, unclear of the fate of jobless benefits and extension of those in the faiscal cliff fight. conservatives say it's time to end it. >> she has a
ben bernanke says the fed doesn't have enough tools to offset the fiscal cliff. the fed will keep interest rates near zero until the jobless rate falls to 6.5% or inflation rate to 2.5%. and growth next year 2.3% to 3% and jobless rate likely to say in the 7.4 to 7.7% range. unemployment checks will end by the end of the year if congress fails to fix the fiscal cliff. it's unclear the fate of the benefits in the fiscal cliff fight, something that terrifies people like alisia worthen. you've...
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bill gates, pope benedict, ben bernanke, saudi king. more on how the list was assembled and other details, forbes media ceo, mike, thanks for being with us. >> this is important to us because nothing personifies what we do at forbes like our power list. we're about success and the impact of people who achieve success have. we have ten editors who get together. we draw on a huge bank -- >> they always agree on everything. don't they? >> exactly. there is some subjectivity, i must admit. they talk about the number of people that someone influences. the amount of financial resources that they have. how many spheres they operate in, are they just financial or are tle political or philanthropic. the fourth criteria is do they act on their power, do they use their power. and if you look at -- >> that's the reason why bill gates would rank so high here is how he has used some of his financial power in the philanthropic sphere. it was interesting to me, "forbes" magazine, leading business magazine, most storied one maybe of all -- >> i have no
bill gates, pope benedict, ben bernanke, saudi king. more on how the list was assembled and other details, forbes media ceo, mike, thanks for being with us. >> this is important to us because nothing personifies what we do at forbes like our power list. we're about success and the impact of people who achieve success have. we have ten editors who get together. we draw on a huge bank -- >> they always agree on everything. don't they? >> exactly. there is some subjectivity, i...
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ben bernanke, the chairman of the federal reserve, said anxiety over the fiscal cliff is already hurting the u.s. economy, undermining consumer confidence and delaying job-creating business investment. and he said there's nothing the fed can do to prevent a recession if there's not a deal here in washington. but this morning, like so many mornings before it, has not provoked either side to come closer to a deal. days of strategic silence descended wednesday into partisan frustration over the seemingly end its stalemate. house speaker john boehner on president obama. >> his plan does not fulfill his promise to bring a balanced approach to solving this problem. it's mainly tax hikes. and his plan does not begin to solve our debt crisis. it actually increases spending. >> and here's white house spokesman jay carney's dismiss i've assessment of boehner's proposal to permanently extend all income tax rates until they're replaced next year under a redrawn tax code with fewer loopholes and deductions. >> those magic beans are just beans and that fairy dust is just dust. it is not serious. and t
ben bernanke, the chairman of the federal reserve, said anxiety over the fiscal cliff is already hurting the u.s. economy, undermining consumer confidence and delaying job-creating business investment. and he said there's nothing the fed can do to prevent a recession if there's not a deal here in washington. but this morning, like so many mornings before it, has not provoked either side to come closer to a deal. days of strategic silence descended wednesday into partisan frustration over the...
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and ben bernanke's news conference at 2:15. the fed is expected to launch a new bond buying program called operation twist that will expire at the enovd month. james, we know this is a huge meeting. this is obviously a good time for the fed to embark on something new for 2013. is this the wise approach? >> well, it's the wise approach in a very near term, a, because operation twist is coming to an end. b, because we have the fiscal cliff or fiscal gentle slope or whatever it turns out to be to negotiate and c, because we haven't found our legs in the u.s. and we clearly have some global headwinds coming in 2013. however, the thing about this qe in the u.s., unlike previous ones where they could see big economic problems, let's comfort the market with a really big number, this time we're going to do it month by month. solo the annual figures look very big, they're going to halt qe as long as it looks like there's inflation. >> which means there might not be much market reaction as investors realize that. >>> find out what travel
and ben bernanke's news conference at 2:15. the fed is expected to launch a new bond buying program called operation twist that will expire at the enovd month. james, we know this is a huge meeting. this is obviously a good time for the fed to embark on something new for 2013. is this the wise approach? >> well, it's the wise approach in a very near term, a, because operation twist is coming to an end. b, because we have the fiscal cliff or fiscal gentle slope or whatever it turns out to...
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we heard from ben bernanke and the truth is everybody realizes that we do have a tough economy and we'll see what happens. but i was just looking at major market averages. we're losing 61 points right now. however we're still up for the week. and then i began to look back to see how many weeks in a row. we're already up. this would be the fourth week in a row of gains. so it is sort of slow and steady and moving higher, slowly but surely like take two steps forward and one step back. that seems to it be the trend. it is still continuing even with the move back here of 61 points we're still up for the week. traders talk about the fact that december is traditionally a higher month. we're still trending to the upside. everybody thinks the fiscal cliff will somehow be solved. look at best buy. this has been a name that's moving. this is winner. this is all about the fact that richard schulze, the founder may be moving forward and may make a takeover buyout offer with a private equity group by the end of the week according to at least one source. we'll see. giving a big boost, 15% gain. back
we heard from ben bernanke and the truth is everybody realizes that we do have a tough economy and we'll see what happens. but i was just looking at major market averages. we're losing 61 points right now. however we're still up for the week. and then i began to look back to see how many weeks in a row. we're already up. this would be the fourth week in a row of gains. so it is sort of slow and steady and moving higher, slowly but surely like take two steps forward and one step back. that seems...
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speaking of the fiscal cliff, jessica, what did the fed chairman ben bernanke say about these current negotiations? >> well, bernanke is the man credited with coining the term fiscal cliff. he did it back in february as part of testimony before congress. bernanke was speaking at a press conference today and he was asked two things. one, does he see impacts from the fiscal cliff, the lack of a deal, is it already rippling through the economy in? he said, yes. that's why you're seeing a fall in consumer confidence and less business activity and he said that it's impair tea that the congress comes to a deal with the white house and he was asked, do you think that term is correct a. fiscal cliff? is it a slope, maybe? he said, no, it's a fiscal can cliff because the economy will hit a brick wall if there is not a deal in january. he says it is not hype. >> he's basically saying if we go over the fiscal cliff, if these lawmakers and white house doesn't make a deal, it could lead to a recession? >> that >> reporter: that's right. we could hit another recession if we go over the fiscal cliff
speaking of the fiscal cliff, jessica, what did the fed chairman ben bernanke say about these current negotiations? >> well, bernanke is the man credited with coining the term fiscal cliff. he did it back in february as part of testimony before congress. bernanke was speaking at a press conference today and he was asked two things. one, does he see impacts from the fiscal cliff, the lack of a deal, is it already rippling through the economy in? he said, yes. that's why you're seeing a...
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ben bernanke said yesterday that the fact that we don't know what's going to happen with this fiscal cliff is affecting the economy. he says it's inflicting damage on the economy, consumer confidence is falling and the failure to come up with a deal will really kill the progress we're making. >> gretchen: the whole thing really comes down to whether or not it's a tax problem or a spending problem. so these are the questions that were asked in a recent fox news poll. keep in mind, this is not just to fox viewers. this is to the average american who happens to pick up the phone. what is the best way to deal with the country's budget problem? mostly spending cuts, 57% say yes. mostly tax increases. only 20% say that is what should be done. both? 18% -- i think this is fascinating, because the message really coming up to the election was all about we need to tax the rich more. we need to pay the fair share, the 1%, the 99%. it really doesn't fall into place with how the election ended up falling out. >> brian: there might be a plan b in the works because it's so frustrating because the p
ben bernanke said yesterday that the fact that we don't know what's going to happen with this fiscal cliff is affecting the economy. he says it's inflicting damage on the economy, consumer confidence is falling and the failure to come up with a deal will really kill the progress we're making. >> gretchen: the whole thing really comes down to whether or not it's a tax problem or a spending problem. so these are the questions that were asked in a recent fox news poll. keep in mind, this is...
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Dec 12, 2012
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fed chief ben bernanke speaks at 2:15 eastern. the s & p 500 up more than 13% so far this year, and now up since the election. >>> bank of america, merrill lynch predicts oil prices in this country will drop to $50 per barrel. the cause? difficulty in moving huge amounts of oil from the bakan oil fields in south dakota and in texas. they don't predict a corresponding drop in gas prices. world oil prices will stay high, and our gas prices will likely track that. >>> americans are upbeat about the economy. 43% of americans say they are optimistic about 2013 and believe the economy is rebounding, nearly twice as many as last year. >> can i ask? the other day, we were talking about the fiscal cliff. and you tell us it will be really, really bad. why does the market keep going up? >> everyone thinks they will fix it. in the market, the question, what will the top rate be for the highest earners. 37%? the market says there will be a deal and lower corporate tax rates. if there isn't a deal, after the first of the year, a big stock marke
fed chief ben bernanke speaks at 2:15 eastern. the s & p 500 up more than 13% so far this year, and now up since the election. >>> bank of america, merrill lynch predicts oil prices in this country will drop to $50 per barrel. the cause? difficulty in moving huge amounts of oil from the bakan oil fields in south dakota and in texas. they don't predict a corresponding drop in gas prices. world oil prices will stay high, and our gas prices will likely track that. >>>...
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Dec 7, 2012
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about the dollar as a result of the very aggressive policies that we've had from alan greenspan and ben bernanke, the dollar has lost about a third of its value over the last three years on the dollar index. does that mean that manufacturers like yourself will be forced to bring jobs back to america because now producing elsewhere and importing on that currency effect is now 30% more expensive? >> you know, in that case for us, that is not going to have a big impact. 80% or more of what we sell in the u.s. we already make in the u.s. we really believe in production and if you look at our business and all of the large markets around the world, we have established production basis. if anything, that's perhaps helped us a little bit because we do export about 15% of our u.s. production. overall the biggest impact that the change in currencies have had is really for us the brazilian and indian currencies which have devalued about 25% over the last year. the u.s. dollar change has not had a large impact on us. interesting to hear you talk about housing in this country. sherwin williams, depo
about the dollar as a result of the very aggressive policies that we've had from alan greenspan and ben bernanke, the dollar has lost about a third of its value over the last three years on the dollar index. does that mean that manufacturers like yourself will be forced to bring jobs back to america because now producing elsewhere and importing on that currency effect is now 30% more expensive? >> you know, in that case for us, that is not going to have a big impact. 80% or more of what...